Press Release
Interim Management Statement
02/08/2007
WS Atkins plc ("Atkins" or "the Group"), the design and engineering consultancy group, today provides its first Interim Management Statement for the quarter ended 30 June 2007, as required by the UK Listing Authority's Disclosure and Transparency Rules.
Financial Position and Performance of the Group
The Group as a whole has started the year in line with our expectations and our core markets remain robust.
As expected staff turnover has increased slightly but our planned recruitment measures have enabled us to increase our total staff from 15,900 (adjusted for the disposal of Lambert Smith Hampton) to 16,400, broadly as anticipated.
The Group's financial position is good with cash flows in line with our expectations.
Material Events and Transactions
On 18 July 2007, a PPP Administrator was appointed to take over the management of the Metronet PPP Companies. This had no impact upon the Group's balance sheet as the carrying value of its investment in the Metronet PPP Companies was £Nil.
The future of the Group's supply chain contracts associated with Metronet remains uncertain whilst Metronet is in administration. However, the Group's results for the full year are not dependent upon a renegotiation of these contracts.
On 20 July 2007, the sale of Lambert Smith Hampton to its management team, which was announced on 26 June 2007, was completed with a profit on disposal of £20 million.
Outlook
Our forward workload remains strong and we are confident that the Group will continue to progress in the year.
Enquiries
| Atkins: | |
| Robert MacLeod, Group Finance Director | + 44 (0) 1372 726140 |
| Sara Lipscombe, Group Communications Director |
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